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Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation

Author/Editor: Townsend, Robert M. | Ueda, Kenichi
Authorized for Distribution: September 1, 2003
Electronic Access: Free Full Text (PDF file size is 1,863KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With analytical and numerical methods, we calibrate and make tractable a prototype canonical model and take it to an application, namely, Thailand 1976-1996, an emerging economy in a phase of economic expansion with uneven financial deepening and increasing inequality. We broadly replicate the actual data, test the model formally, and identify anomalies.
 
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Series: Working Paper No. 03/193
Subject(s): Economic growth | Thailand | Transition economies | Economic models
Author's keyword(s): Financial Deepening | inequality | growth | transitional dynamics
 
English  
    Published:   September 1, 2003        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA1932003   Pages:   64
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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